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With women at the heart of this mission, the Bank ensures that women are central to driving financialinclusion across the nation. The Bank announced that it now works with over 100,000, women business correspondents, reinforcing its commitment to financialinclusion and economic empowerment.
This collaboration will support fintechs with the expertise, infrastructure, and rapid go-to-market capabilities needed to navigate the complexities of issuing cards unlocking new opportunities for financialinclusion and digital transformation.
This collaboration is part of a broader effort to put a spotlight on the millions of customers that Paysend is proud to serve, delivering Simple Money Transfer solutions to all, including the underbanked and underserved, and transforming lives through quick, secure, and affordable money transfers.
The goal of this partnership between the top Spanish-language media company and the global payments provider is to give people in underserved areas fast, low-cost cross-border money transfers. At the heart of this effort is Paysend’s mission to break geographic, financial, and digital barriers.
As BaaS evolves, it is helping fintech innovation reach new markets and underserved communities; which has the potential to greatly improve financialinclusion across the globe. BaaS means these businesses can focus on what makes them unique and inclusive.”
The regions strong fundamentals, coupled with a growing digital economy, promise continued growth and innovation in the coming years, a new report by Royal Park Partners (RPP), a fintech-focused corporate finance advisory firm, says. billion underbanked adults. million registered users.
Cyril Han, Ant Group s President and current Chief Financial Officer, will step into the role of CEO on 1 March 2025, according to Bloomberg. He will continue to report to Jing and the board of directors. Cyril Han Han will succeed Eric Jing, who will remain the companys chairman.
This collaboration is designed to enhance the payment experience for merchants and consumers while driving financialinclusion across the region. This approach not only strengthens tpay’s service capabilities but also extends financial access to underserved communities, narrowing the gap in digital financial services across META.
Despite its political unrest and economic challenges, Myanmar has shown significant progress in the fintech sector, bringing financial services to underserved populations. The initiative aimed to promote financialinclusion by encouraging collaboration between fintech companies and financial institutions.
Cross-border payment hub, Tranglo , has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia as it continues to aim to boost financialinclusion by providing efficient, affordable cross-border payment solutions to the region. per cent in 2024.
Having originally launched in Mexico in February 2024, inDrive Money improves financialinclusion for gig economy workers. This is particularly impactful as freelancers have traditionally been underserved in Latin America, and Colombia is no different. This will depend on their activity on the inDrive app.
Since Singapore launched its first digital bank in 2022, five digital banksGXS Bank, MariBank, ANEXT Bank, Green Link Digital Bank, and Trust Bankhave entered the market, challenging traditional banking models and reintroducing fintech innovation to Singapore’s financial landscape. removing minimum deposit requirements.
Xavier Segura, general partner, Morgan Creek Digital Xavier Segura , general partner, Morgan Creek Digital added: “As Latin America’s Web3 startup ecosystem continues to evolve and mature, we are looking forward to supporting the founders that have joined the programme.” The selected teams were chosen from applications across the region.
The FICO team was excited to lead the FinancialInclusion track that focused on how to responsibly expand credit access to previously unscorable consumers. A key point that the experts underscored during the FinancialInclusion sessions at LendIt was that expanding financialinclusion is a win-win proposition.
We remain unwavering in our commitment to shaping the future of payments and financial services in this dynamic market, said Mark Elliott, Division President for Africa at Mastercard. Ghana presents a tremendous opportunity for Mastercard to enhance its geographical presence in West Africa.
During our Spring Conference earlier this month, we held a session called, "Faster Payments: Accelerating FinancialInclusion." It is really critical to think about how we, as an ecosystem, can come together and drive the right financial services for unserved and underserved consumers and small businesses."
Additionally, founders and owners may lack the financial tools and expertise needed to manage cash flow effectively, further complicating their growth potential. Despite their significant contributions to GDP and employment, SMEs in emerging markets remain underserved by traditional banking.
The recognition also highlights Thunes’ achievements in product development, operational excellence, and its crucial role in enhancing interoperability, key to expanding financialinclusion and enabling access across both mature and emerging markets. James Teodorini , Head of Asia Pacific at Thunes.
Open banking and APIs will continue to drive innovation, enabling even more seamless integration of financial services. Financialinclusion will remain a key focus. From making financial services accessible to unbanked populations to enhancing convenience for urban users, its impact is profound.
Senegal is one of many countries across the Middle East and Africa trying to diversify its economy and future-proof itself by hosting financialinclusion by employing fintech solutions. However, Senegal remains a developing economy with significant challenges in financialinclusion , particularly in rural areas.
Financialinclusion and access to credit continue to be a hurdle for businesses especially SMEs and individuals in Nigeria. Moniepoints success in broadening access to the financial system has resulted in millions of businesses accessing the system for the first time. How is Moniepoint supporting the underbanked?
Undoubtedly, fintech and payments will continue to serve as pivotal forces shaping the financial landscape, but what trends will define the market next year? Jeff Parker, CEO, says, “Digital payments will continue to grow rapidly, with mobile wallets expected to reach 4.8
Unlike GenAI, which operates within predefined parameters, Agentic AI systems possess the capability to make independent decisions, learn from real-time data, and autonomously execute complex tasks without continuous human oversight. From fraud prevention to financialinclusion, its applications are vast and impactful.
a fintech empowering consumers with innovative services for flexible money access, has announced a partnership with Mastercard to continue scaling payments and disbursements services in the public sector. It is an honor to partner with Mastercard, and continue driving innovation throughout the public sector,” said Stewart A.
The British fintech company Pockit and the pan-European fintech Monese today announce that they have agreed terms for Pockit to acquire Monese, subject to Change in Control approval by the FCA, creating the leading fintech for the financiallyunderserved and lower-middle-income consumers across the UK and Europe.
This underserved group encompasses those with minimal or no credit history, small businesses, and emerging demographics, including the youth and female populations. In Kenya, banking apps have driven a significant increase in financialinclusion from 26 per cent in 2006 to 83 per cent in 2021.
We often explore how fintechs are changing the banking and payments landscapes, and sometimes look into how their solutions are supporting financialinclusion and helping people develop healthy financial habits. “A fintech for good embeds purpose into its core. “This can change.
As insurers strive to meet the evolving needs of a digitally-savvy customer base while addressing the persistent challenge of financialinclusion, they are increasingly turning to fintech solutions. “These solutions enhance accessibility by providing digital insurance options tailored to the needs of underserved communities.
FinancialInclusion Using Analytics. This was one of the contributors to the tremendous market expansion during the 90s which has continued to present day. It means the inclusion of credit markets that are less developed, where a larger part of the population is underserved. Saxon Shirley. Mon, 02/21/2022 - 07:59.
Tranglo , a leading cross-border payment hub, continues its expansion across Africa with the addition of 10 new payout countries: Benin, Cameroon, the Democratic Republic of the Congo, Gambia, Guinea, Guinea-Bissau, Ivory Coast, Malawi, Rwanda, and Tanzania. With the latest expansion, Tranglo now supports payouts to 25 African countries.
These platforms leverage blockchain technology to create open, accessible, and secure financial systems that operate without the need for intermediaries like banks. As a result, DeFi is gaining traction rapidly due to its ability to provide financial services to those who have been historically underserved by conventional banking systems.
million active customers and more than 79,000 merchants across the United States, Australia and New Zealand,1 Zip continues to promote financialinclusion by making everyday spending, cash flow management, budgeting – and the ability to cover unexpected expenses – accessible.
Paysend delivers money transfer solutions to a wide customer base, including the underbanked and underserved, and aims to transform lives through quick, secure, and affordable money transfers. Latin America is a region that is central to our long-term vision,” explained Ana Paula Rocha , head of growth marketing at Paysend.
Post-Independence (1947 - 1990s): Building the Foundation After independence, India focused on strengthening its financial infrastructure and extending banking services. Nationalization of Banks (1969, 1980): A major policy shift aimed at increasing financialinclusion and directing credit to priority sectors.
From digital payments to decentralised finance (DeFi), these companies are solving real-world challenges like financialinclusion and cross-border transactions, while setting new global standards for innovation. Each plays a key role in transforming how Indonesians save, spend, invest, and access financial services.
Yet, despite these challenges, the fintech industry continues to innovate and adapt, seeking new avenues for growth and development. The research points out that this diversity in views reflects the sector’s resilience, with many firms identifying opportunities for expansion, especially into underserved markets.
The Mastercard Ghana Fintech Forum aimed to address these issues, fostering engagement and innovation to drive financialinclusion. “At At Mastercard, we believe in the power of collaboration to overcome unique market challenges, drive innovation, and foster growth in the financial sector.
Experian launched Cashflow Attributes, a tool to offer lenders more data about underserved consumers. Lenders can use the insights to aid in their underwriting decisions, drive more personalized experiences, and help improve financial management tools.
We firmly believe that rural bank digitisation is pivotal to nurture financialinclusivity in Indonesia. We will continue to innovate and bring meaningful impacts to Indonesia’s massive population base, especially the underserved yet promising MSMEs in tier 2 and 3 cities.”
The latest to do so is PayJoy , the financial service provider to the underserved in emerging markets, as it reveals how smartphones are enabling working mothers in Mexico to have financial stability. Were committed to supporting the women who are often overlooked by traditional financial services, continued Barrantes.
To make sure more people have access to these services, the government of Papua New Guinea has been putting a focus on financialinclusion. It was established to act as the industry’s apex organisation for coordinating, advocating and monitoring all financialinclusion activities in the country.
and around the world and finding the right partners to better midwife an era of democratized access to financial services solutions that need to vary and speak to the needs of the underserved population being helped. That means, according to Schulman, being a better cooperator in the U.S.
By setting up shop right in the bustling heart of the country’s financial district, Oradian is not just physically closer to clients — the Filipino fintech is better positioned to be effective within the very fabric of everyday Filipino financial life.
Ultimately, Kueski’s mission is to facilitate the financial lives of Mexicans, and this latest innovation represents a significant step toward financialinclusion for all. “At Kueski, we have built one of the strongest merchant networks in Mexico and this only continues to grow.
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